Asda Group says it would purchase petrol station operator EG Group's UK and Ireland enterprise, creating an organization with mixed revenues of practically £30bn.

The news confirms a report by Sky News City editor Mark Kleinman final week, which stated the "finishing touches" have been being placed on the deal.

The mixture of Asda and EG UK will create a behemoth with 170,000 staff, and the group will function practically 600 supermarkets, 700 petrol forecourts and 100 comfort shops.

Stuart Rose, Chair of Asda, stated: "Asda's acquisition of EG UK and Ireland will create a consumer champion like the UK has never seen. Throughout my career in retail - one thing has always been true, that meeting the evolving needs of customers is the route to growth.

"This transaction is all about driving development by bringing Asda's heritage in worth to much more communities and accelerating the expansion of its comfort retail enterprise."